Gathering family and friends to celebrate the holidays is always an eventful experience, with memories to cherish for years. From when Halloween begins and New Years ends, and Thanksgiving and Christmas in between, purchasing items for the holidays is a must in order to partake in the celebrations. Halloween needs all of the candy and costumes, Thanksgiving needs its Turkey and delicious food, Christmas needs all of the presents and tree and lights, and New Years needs the alcohol and party necessities. With all of the purchases made for each holiday, it is not shocking the final toll it has on expenses. Stores line there pockets with cash as individuals lose out on all of theirs. This can significantly affect the financial goals a person may make for their 2014 year.
In this modern day and age, where anything can go, it is important for the average American to have financial stability. This can be met with setting aside savings, and many Americans do set aside some money for security. Also, many people save money for vacations, buying a home, buying a car, or any other large financial investment. This is easily done by figuring out the monthly income and setting aside a portion of that that is not needed for bills and other personal cares. However, when the holiday season comes around, the goal for savings at the end of the year can be completely altered. Setting aside the intended money can become impossible if there isn’t room for all of the holiday purchases. At times, folks even have to dip into the money they saved to be able to get all they may want or need. This can throw someone off of the goal that they had wanted to reach and if this goal was for a large purchase, the wait for the item will be longer.
The best way to avoid being put into a disappointing position like that, is to be sure that you finance your money during the holiday season with money set aside for the items that need to be purchased. If the individual knows what is coming and has the money figured out to include holiday expenses, then the goals won’t be uprooted and there will be a more realistic financial goal. Keep in mind that when the end of the year comes around and all of the seasonal events begin, your financial goal must be extended in to the next year. Also, if you plan your holiday expenses in the future, you will be able to know exactly how much you can spend and not have to spend too much. Over-budget slightly to help, but cut back on things that aren’t a necessity. This way, the financial goal will only be slightly affected.
Kyle Burton is a finance writer for a number of websites, including Signature Loans Direct where he helps consumers learn about online financing, budgets and consumer loans to make informed financial decisions